截至收盘，中证石化产业指数上涨2.7%，中证稀土产业指数上涨2.1%。Wind数据显示，截至昨日，化工行业ETF易方达（516570）已连续8个交易日"吸 金"，合计约3亿元。 中国银河证券指出，供给端，一方面，2024年以来化工行业资本开支迎来负增长，在建、存量产能将逐渐消化；另一方面，国内"反内卷"浪潮汹涌，海外落 后产能加速出清，供给端有望收缩。需求端，"十五五"规划建议稿"坚持扩大内需"为未来五年定调，国内新旧动能切换将持续推进叠加美国降息周期开启， 化工品需求增长可期。2026年供给侧和需求侧的新动能有望加速化工行业周期反转，建议关注结构性投资机会。 | 该指数由中证800指数样本股 | 今日该指数涨跌 | 该指数市净率 | ı | | --- | --- | --- | --- | | 中的石化产业股票组成,基础 | | | 发 | | 化工、石油石化行业占比超 90% | 2. 7% | 1.7倍 | | 每日经济新闻 ...

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core View of the Report The report presents the market performance of A - shares and various ETFs on January 28, 2026, including the performance of the Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index, as well as the price changes and trading volumes of different types of ETFs [2][3][4]. 3. Summary by Related Catalogs Market Overview - The Shanghai Composite Index rose 0.27% to close at 4151.24 points, the Shenzhen Component Index rose 0.09% to close at 14342.89 points, and the ChiNext Index fell 0.57% to close at 3323.56 points. The trading volume of A - shares in the two markets was 29919 billion yuan. The top - performing industries were non - ferrous metals (5.92%), petroleum and petrochemical (3.54%), and coal (3.42%), while the bottom - performing industries were comprehensive (-2.53%), media (-1.77%), and national defense and military industry (-1.68%) [2][6]. Stock ETF - The top - trading - volume stock ETFs included: Huatai - Peregrine CSI 300 ETF, up 0.32% with a discount rate of 0.24%; E Fund CSI 300 ETF, up 0.29% with a discount rate of 0.19%; and China AMC CSI 300 ETF, up 0.27% with a discount rate of 0.18% [3][7]. - The report also provided a table of the top ten stock ETFs by trading volume, showing details such as code, fund name, price, change rate, tracking index, and discount rate [8]. Bond ETF - The top - trading - volume bond ETFs were: Haifutong CSI Short - term Financing Bond ETF, down 0.00% with a discount rate of 0.00%; China AMC Shanghai Stock Exchange Benchmark Market - making Treasury Bond ETF, up 0.04% with a discount rate of 0.03%; and Bosera CSI Convertible and Exchangeable Bond ETF, up 0.99% with a discount rate of 1.22% [4][9]. - A table of the top five bond ETFs by trading volume was presented, including code, fund name, price, change rate, discount rate, and trading volume [10]. Gold ETF - Gold AU9999 rose 3.57% and Shanghai Gold rose 3.27%. The top - trading - volume gold ETFs were: Huaan Gold ETF, up 3.16% with a discount rate of 3.23%; E Fund Gold ETF, up 3.19% with a discount rate of 3.22%; and Bosera Gold ETF, up 3.20% with a discount rate of 3.20% [10]. - A table of the gold ETFs showed details such as code, fund name, price, change rate, trading volume, IOPV, and discount rate [11]. Commodity Futures ETF - Dacheng Non - ferrous Metals Futures ETF rose 0.74% with a discount rate of 0.98%; Jianxin Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF rose 1.53% with a discount rate of 1.27%; and China AMC Feed Soybean Meal Futures ETF rose 0.76% with a discount rate of 3.92% [11]. - A table provided information on the commodity futures ETFs, including code, fund name, price, change rate, trading volume, IOPV, discount rate, tracking index, and tracking index change rate [12]. Cross - border ETF - The previous trading day, the Dow Jones Industrial Average fell 0.83%, the Nasdaq rose 0.91%, the S&P 500 rose 0.41%, and the German DAX fell 0.15%. On this day, the Hang Seng Index rose 2.58% and the Hang Seng China Enterprises Index rose 2.89%. The top - trading - volume cross - border ETFs were: E Fund CSI Hong Kong Securities Investment Theme ETF, up 0.62% with a discount rate of - 0.43%; Huatai - Peregrine Hang Seng Technology ETF, up 1.88% with a discount rate of 1.56%; and Huatai - Peregrine CSI KRX China - South Korea Semiconductor ETF, up 7.43% with a discount rate of 17.96% [14]. - A table of the top five cross - border ETFs by trading volume was shown [15]. Money ETF - The top - trading - volume money ETFs were: Yin Hua Ri Li ETF, Hua Bao Tian Yi ETF, and Money ETF Jianxin [16]. - A table presented the top three money ETFs by trading volume [17].

Core Viewpoint - The A-share market is experiencing significant net outflows from broad-based ETFs, despite strong overall market performance and high trading volumes [2][4][6]. Group 1: ETF Market Dynamics - On January 28, the trading volume of multiple broad-based ETFs surged, with total ETF trading reaching a record high of 762.8 billion yuan [3]. - As of January 27, 11 broad-based stock ETFs had net outflows exceeding 10 billion yuan each, totaling over 720 billion yuan in outflows [4]. - Major ETFs such as Huatai-PB CSI 300 ETF and E Fund CSI 300 ETF faced net outflows exceeding 100 billion yuan each [4][6]. Group 2: Sector Performance - Despite the outflows from broad-based ETFs, sectors like non-ferrous metals, chemicals, electric grid equipment, semiconductors, and satellites have shown strong performance [4]. - Specific ETFs in these sectors, such as Southern CSI Nonferrous Metals ETF and Huaxia CSI Electric Grid Equipment ETF, have attracted over 10 billion yuan in net inflows [4]. Group 3: Market Trends and Investor Behavior - The A-share market is characterized by a clear divergence in performance, with indices like Sci-Tech 200 and Sci-Tech 100 performing well, while large-cap indices like CSI 300 and SSE 50 lag behind [6][7]. - The current market environment is marked by a strong "opening red" expectation, which supports investor confidence, despite significant net redemptions in broad-based ETFs [7]. - The growth of narrow-based, cross-border, and commodity ETFs contrasts with the decline in broad-based and bond ETFs, indicating a shift in investor preferences [4][8].

Group 1 - The core viewpoint of the news highlights a significant surge in oil-themed LOF funds, with several funds reaching their daily limit up on January 28, indicating strong investor interest in the oil sector [1] - The premium rates for oil funds are notably high, with the oil fund LOF exceeding 30% and the Southern Oil LOF exceeding 20%, while other oil-themed LOFs also show premiums above 10% [1] - In response to the high premiums, Huaan Fund announced the suspension of large subscriptions and large regular investment operations for the oil fund LOF starting January 28, reducing the daily subscription limit from 100 yuan to 10 yuan per account [1] Group 2 - Risk warnings have been issued by the fund managers of the oil fund LOF and Southern Oil LOF, advising investors to be cautious of the significant price premiums in the secondary market, which could lead to substantial losses if investments are made blindly [1]

Group 1 - The core index, the China Securities Petrochemical Industry Index (H11057), has seen a strong increase of 2.64% as of January 28, 2026, with notable individual stock performances including Bang Bio rising by 10.16%, Zhejiang Longsheng by 9.99%, and Satellite Chemical by 8.50% [1] - The E Fund Chemical Industry ETF (516570) has increased by 2.87%, with a latest price of 1.15 yuan, and has accumulated a weekly increase of 2.77% as of January 27, 2026 [1] - The trading activity for the E Fund Chemical Industry ETF has been robust, with a turnover rate of 10.92% and a transaction volume of 61.67 million yuan, indicating active market participation [1] Group 2 - The E Fund Chemical Industry ETF has reached a new high in scale at 549 million yuan and a new high in shares at 494 million shares, both within the past year [1] - Over the past eight days, the E Fund Chemical Industry ETF has experienced continuous net inflows, with a maximum single-day net inflow of 74.97 million yuan, totaling 280 million yuan in net inflows and an average daily net inflow of 35.02 million yuan [1] - As of December 31, 2025, the top ten weighted stocks in the China Securities Petrochemical Industry Index account for 56.73% of the index, including major companies such as Wanhua Chemical, China Petroleum, and China Petrochemical [2]

中国银河证券认为，随着商业航天发射成本下降与电池技术持续突破，太空光伏有望在未来10-15年逐 步实现商业化，短期需重点关注技术突破与场景绑定进度，长期则有望成为光伏产业新的增长蓝海。 中证光伏产业指数覆盖光伏产业链上下游50只代表性股票，涵盖硅料、硅片、电池片、组件、逆变器及 电站运营等各环节龙头企业，行业纯度高，有望深度受益于太空光伏发展与全球光储建设。光伏ETF易 方达（562970）跟踪该指数，可助力投资者捕捉太空光伏未来发展机遇。 （文章来源：每日经济新闻） 光伏板块在上周走高后迎来震荡调整，截至14:30，中证光伏产业指数下跌2.0%，跟踪该指数的光伏 ETF易方达（562970）近3个交易日连续获资金净流入，合计超1.3亿元。 2025年末，我国向国际电信联盟申报超20万颗卫星频轨资源的消息引发关注，申报数量之多被认为"史 无前例"，作为地外飞行器重要的能源供应方式，太空光伏有望受益于全球商业航天热潮。马斯克也表 示SpaceX和特斯拉正在提升太阳能产能，目标是每年达到100GW。 ...

Group 1 - The core viewpoint of the news highlights the strong performance of the semiconductor materials and equipment sector, with the CSI Semiconductor Materials and Equipment Theme Index rising by 1.03% as of January 28, 2026 [1] - Notable individual stocks within the index include Kangqiang Electronics, which increased by 10.02%, and Jinhaitong, which rose by 6.62% [1] - The semiconductor equipment ETF managed by E Fund (159558) saw a price increase of 1.26%, reaching 2.26 yuan, and has accumulated a 7.89% increase over the past two weeks, ranking 2nd out of 5 comparable funds [1] Group 2 - In terms of liquidity, the E Fund semiconductor equipment ETF had a turnover rate of 5.34% during the trading session, with a total transaction volume of 253 million yuan [1] - Over the past week, the ETF has averaged a daily transaction volume of 325 million yuan, ranking 2nd among comparable funds [1] - The ETF's scale has grown significantly, with an increase of 1.9 billion yuan over the past two weeks, placing it 2nd among comparable funds [1] Group 3 - The latest share count for the E Fund semiconductor equipment ETF reached 2.107 billion shares, marking a one-year high and ranking 2nd among comparable funds [1] - The ETF has experienced continuous net inflows over the past 21 days, with a peak single-day net inflow of 621 million yuan, totaling 2.794 billion yuan in net inflows, averaging 133 million yuan per day [1] - The CSI Semiconductor Materials and Equipment Theme Index tracks 40 listed companies involved in semiconductor materials and equipment, reflecting the overall performance of these securities [1] Group 4 - As of December 31, 2025, the top ten weighted stocks in the CSI Semiconductor Materials and Equipment Theme Index accounted for 65.08% of the index, including companies like Northern Huachuang and Zhongwei Company [2] - The E Fund semiconductor equipment ETF has associated fund options, including E Fund CSI Semiconductor Materials and Equipment Theme ETF Link Fund A and C [2]

（文章来源：每日经济新闻） 每经AI快讯，1月28日，暂停申购首日，易方达黄金主题LOF(161116)日内最高至2.126，涨幅达9.58%， 目前涨幅缩小至7.5%左右，成交额逾7亿元。此前国投白银LOF触及涨停，该基金在同日暂停申购。 ...

暂停申购首日，易方达黄金主题LOF日内最高至2.126，涨幅达9.58%，目前涨幅缩小至7.5%左右，成交 额逾7亿元。此前国投白银LOF触及涨停，该基金在同日暂停申购。 （文章来源：第一财经） ...

银河证券指出，伴随美元走弱，资金持续撤离风险资产，而市场对美国货币政策独立性存在一定担忧， 美欧关系反复升级，再叠加中东等区域地缘局势不确定上升，共同促使避险资金向贵金属板块集中， 金、银贵金属价格同步突破历史区间，持续刷新历史新高。 中信期货认为，相较其他贵金属，黄金价格运行更为平稳，波动率明显低于白银，配置型资金重新将黄 金视为优先选择，支撑其在高位维持强势。在全球不确定性上升、风险偏好反复切换的环境下，黄金的 避险与配置价值仍具韧性。短期关注地缘与贸易政策扰动带来的波动放大风险，但中期支撑逻辑未改。 黄金ETF易方达(159934)提供了证券账户便捷投资黄金的手段，拥有证券账户的投资者可以T+0交易黄 金。场外联接(A类：000307；C类：002963)。 MACD金叉信号形成，这些股涨势不错！ 截至2026年1月28日 13:51，黄金ETF易方达(159934)上涨3.21%，冲击4连涨。盘中换手5.8%，成交26.88 亿元。 截至1月27日，黄金ETF易方达(159934)近7天获得连续资金净流入，最高单日获得8.75亿元净流入，合 计"吸金"25.50亿元。 消息面上，1月28日午后，国际黄 ...